European Central Bank @ecb@respublicae.eu
Unofficial automated mirror. No copyright asserted. ∎ The European Central Bank is the central bank for Europe's single currency, the euro. Its main task is to maintain the euro's purchasing power.
Joined Apr 2022
How did euro area bank interest rates evolve in April? How do they compare with March’s figures? Find out more in the press release https://www.ecb.europa.eu/press/pr/stats/mfi/html/ecb.mir2304~827882129b.en.html
Higher interest rates have yet to meaningfully feed into higher deposit rates paid by banks, our Financial Stability Review shows.
While rates on deposits with an agreed maturity have risen, overnight deposit rates have largely remained the same https://www.ecb.europa.eu/pub/financial-stability/fsr/focus/2023/html/ecb.fsrbox202305_04~7fbb3af52c.en.html
We’re inviting banks and those managing counterparty credit risk to provide feedback on our latest CCR report by 14 July 2023. The report highlights good market practices observed by us and areas where we’re looking for improvement.
Read the press release https://www.bankingsupervision.europa.eu/press/pr/date/2023/html/ssm.pr230602~8419bb17cb.en.html
Panetta: We are now dealing with the inflationary consequences of a series of adverse global shocks. But we are fully determined to reach our 2% target.
There is considerable room for fighting inflation by keeping rates high for as long as necessary
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🧵 We will bring inflation back to 2%, says Executive Board member Fabio Panetta in an interview with @lemondefr. We have raised interest rates decisively, but monetary policy typically operates with lags.
Read the interview https://www.ecb.europa.eu/press/inter/date/2023/html/ecb.in230602~7f6e313c29.en.html
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Speech: Vice-President Luis de Guindos: Financial stability in the euro area https://www.ecb.europa.eu/press/key/date/2023/html/ecb.sp230601_1~618cf8f1af.en.html
Enria: When poor governance or an unsustainable business model jeopardises the viability of a bank, supervisors need to be bold and drive change within a well-defined timeframe.
Enria: Banks must take ownership for identifying and managing risks. They need robust governance and a sound risk culture to ensure that the pursuit of growth and profitability never comes before prudence.
When we look at the recent bank failures, in most cases we see a failure to manage risks such as interest rate risk, liquidity risk and counterparty credit risk. In the end, this comes back to bad governance, says Supervisory Board Chair Andrea Enria.
Our rate hikes are already feeding into lending conditions, President @Lagarde says at #Sparkassentag.
We will keep moving forward until we see inflation returning to 2%, while also carefully assessing how our policies are passing through to the economy https://www.ecb.europa.eu/press/key/date/2023/html/ecb.sp230601~2740cf2320.en.html
#TheECBblog examines how the EU can use emissions trading to strike a balance between sustainability goals and competitiveness https://www.ecb.europa.eu/press/blog/date/2023/html/ecb.blog230601~529f371a98.en.html
Prices and demand for housing and commercial real estate have fallen as interest rates have risen, our Financial Stability Review shows.
What this means for the financial system will depend on how quickly real estate markets adjust in the euro area https://www.ecb.europa.eu/pub/financial-stability/fsr/html/ecb.fsr202305~65f8cb74d7.en.html#toc8
25 years ago today, the ECB started operating with a clear mandate: price stability. From then on, we have worked to safeguard the value of the euro. And we’ll continue making sure you can spend, save, borrow, and invest your money with confidence.
https://www.youtube.com/watch?v=MVnnxKBe8GU&t=2s
Publication: Annual Report on Sanctioning Activities in the SSM in 2022 https://www.bankingsupervision.europa.eu/press/publications/sanctioning-report/html/ssm.sr2023~18552bfcd9.en.html
RT @FrankElderson: Climate risk – transition and physical – can reduce GDP growth and fiscal buffers. Interesting analysis by my @ecb colleagues on what climate change means for sovereign risk.
Read the special feature in our Financial Stability Review https://www.ecb.europa.eu/pub/financial-stability/fsr/special/html/ecb.fsrart202305_03~f51dd11fd7.en.html
Housing markets in most euro area countries have started to cool.
Prices could fall more as banks tighten their credit standards for loans
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Firms in the euro area have benefited from a strong post-pandemic recovery, lower energy prices and high profits.
Yet, the outlook for firms is still uncertain, especially for those with higher debt levels, lower earnings and smaller liquidity buffers
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Euro area banks have remained resilient in the face of recent banking sector stress in the United States and Switzerland, thanks to their robust capital and liquidity positions
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Unofficial automated mirror. No copyright asserted. ∎ The European Central Bank is the central bank for Europe's single currency, the euro. Its main task is to maintain the euro's purchasing power.
Joined Apr 2022
